ACTIVE

GRAYWAN

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Financial year 2025 · closed on 31/12/2025

Net result

26,9 k €

-81.5% YoY

Gross margin

37,7 k €

-82.2% YoY

Equity

708,6 k €

-9.9% YoY

What does GRAYWAN do?

GRAYWAN is a Public limited company incorporated in 1976. Its main activity is: Cutting, shaping and finishing of stone. Its registered office is in Sint-Niklaas.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0415.893.537

Incorporation

01/01/1976

Legal form

Public limited company

Registered office

Europark-Oost 28
9100 Sint-Niklaas · FlandreSee on map

Contributed capital

62 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

23700Cutting, shaping and finishing of stone· main 23700Cutting, shaping and finishing of stone 26700Manufacture of optical instruments and photographic equipment 47521Retail sale of hardware, paints and glass in specialised stores 47521Retail sale of hardware, paints and glass in specialised stores 52461Warehousing and support activities for transportation

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	37,7 k €	-82.2%	212,1 k €	+6.3%	199,6 k €	-7.6%	216 k €	-23.8%	283,4 k €	+71.9%	164,9 k €	-12.1%	187,5 k €	+9.5%	171,2 k €	+78.8%	95,7 k €	-19.5%	118,9 k €	+57.7%	75,4 k €	+31.7%	57,2 k €	-82.0%	317,4 k €	-42.3%	549,6 k €	-21.3%	698 k €	+2.4%	681,5 k €	-19.3%	844,4 k €	-0.6%	849,6 k €	-0.6%	854,3 k €
EBITDA	28 k €	-86.1%	202,4 k €	+6.3%	190,4 k €	-8.3%	207,6 k €	-24.6%	275,3 k €	+76.0%	156,4 k €	-12.0%	177,7 k €	+11.7%	159,1 k €	+95.1%	81,5 k €	-23.4%	106,5 k €	+48.9%	71,5 k €	+208%	23,2 k €	-67.7%	71,9 k €	+6.6%	67,4 k €	-50.8%	137,2 k €	+102%	68 k €	-60.4%	171,6 k €	+28.2%	133,8 k €	-11.3%	150,8 k €
Operating result	19,2 k €	-90.0%	192,5 k €	+6.0%	181,7 k €	-8.8%	199,2 k €	-25.7%	268,1 k €	+87.2%	143,2 k €	-9.6%	158,5 k €	+13.4%	139,8 k €	+201%	46,4 k €	-40.1%	77,5 k €	+73.4%	44,7 k €	+30.9%	34,1 k €	+0.7%	33,9 k €	+140%	14,1 k €	-79.0%	67,1 k €	+3468%	-2 k €	-102%	108,9 k €	+84.8%	59 k €	-30.0%	84,2 k €
Net result	26,9 k €	-81.5%	145,5 k €	+7.0%	136 k €	+0.4%	135,5 k €	-27.2%	186 k €	+81.6%	102,4 k €	-7.7%	110,9 k €	+4.9%	105,7 k €	+181%	37,6 k €	-34.4%	57,2 k €	+115%	26,6 k €	-38.1%	43 k €	-3.7%	44,6 k €	+59.7%	27,9 k €	-64.3%	78,3 k €	+235%	23,4 k €	-73.6%	88,5 k €	+5.1%	84,2 k €	+3.3%	81,5 k €
Balance sheet
Equity	708,6 k €	-9.9%	786,2 k €	+4.8%	749,9 k €	+4.5%	717,7 k €	+16.2%	617,9 k €	+26.8%	487,3 k €	+0.7%	484,1 k €	+16.3%	416,1 k €	-32.6%	617,5 k €	+6.5%	579,9 k €	+11.0%	522,7 k €	+5.4%	496 k €	+9.5%	453,1 k €	-65.4%	1,3 M €	+2.2%	1,3 M €	+6.5%	1,2 M €	+2.0%	1,2 M €	-1.0%	1,2 M €	-1.3%	1,2 M €
Total assets	875,3 k €	-10.6%	978,7 k €	+7.2%	912,9 k €	+8.3%	842,7 k €	+8.7%	775,1 k €	+14.7%	675,7 k €	+15.2%	586,3 k €	+7.1%	547,7 k €	-21.9%	701,4 k €	+3.1%	680,3 k €	+8.2%	628,6 k €	-2.8%	646,6 k €	-9.0%	710,8 k €	-52.3%	1,5 M €	-3.3%	1,5 M €	+11.9%	1,4 M €	-10.7%	1,5 M €	+3.4%	1,5 M €	+3.4%	1,4 M €
Cash	779,9 k €	-11.9%	885,3 k €	+11.3%	795,2 k €	+10.7%	718,6 k €	+15.0%	625,1 k €	+30.5%	479,1 k €	+30.5%	367,1 k €	+222%	114 k €	-65.8%	333,5 k €	-16.0%	396,9 k €	+156%	155,3 k €	+7.8%	144 k €	+39.2%	103,5 k €	-65.3%	298,2 k €	-66.0%	877,8 k €	+37.9%	636,6 k €	-10.8%	713,4 k €	+20.6%	591,3 k €	+19.3%	495,8 k €
Debts	166,8 k €	-13.4%	192,4 k €	+18.0%	163,1 k €	+32.3%	123,3 k €	-3.0%	127,2 k €	-20.7%	160,3 k €	+116%	74,1 k €	-28.4%	103,4 k €	+85.4%	55,8 k €	-22.8%	72,3 k €	-7.2%	77,9 k €	-30.3%	111,8 k €	-51.3%	229,6 k €	+61.2%	142,4 k €	-35.6%	221,1 k €	+63.3%	135,4 k €	-58.1%	323,5 k €	+20.8%	267,7 k €	+32.1%	202,7 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		–		4,9 ETP	-61.4%	12,7 ETP	-15.9%	15,1 ETP	-5.0%	15,9 ETP	-5.9%	16,9 ETP	+3.7%	16,3 ETP	+3.2%	15,8 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 11 ended

Active mandates

Carina Quintelier

Director

Active

Wim De Wan

Managing director

Active

Ended mandates

CARINA QUINTELIER

Director · since 21 juin 2008 · until 21 juin 2014

Ended

CARINA QUINTELIER

Director · since 21 juin 2008

Ended

DIRK DE WAN

Director · since 21 juin 2008 · until 25 mai 2012

Ended

DIRK DE WAN

Director · since 21 juin 2008 · until 21 juin 2014

Ended

At this address

Other companies at this address

Company	CBE no.
Natuursteen De Wan● Active	0536.422.470

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	13/07/2026	22/07/2025	28/06/2024	12/07/2023	29/07/2022	09/07/2021
General meeting	30/06/2026	30/06/2025	17/06/2024	17/06/2023	30/06/2022	30/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	30/06/2026	13/07/2026	Dutch	PDF
Micro model	31/12/2024	30/06/2025	22/07/2025	Dutch	PDF
Micro model	31/12/2023	17/06/2024	28/06/2024	Dutch	PDF
Micro model	31/12/2022	17/06/2023	12/07/2023	Dutch	PDF
Micro model	31/12/2021	30/06/2022	29/07/2022	Dutch	PDF
Micro model	31/12/2020	30/06/2021	09/07/2021	Dutch	PDF
Micro model	31/12/2019	25/06/2020	31/08/2020	Dutch	PDF
Abridged model	31/12/2018	15/06/2019	12/07/2019	Dutch	PDF
Abridged model	31/12/2017	16/06/2018	20/07/2018	Dutch	PDF
Abridged model	31/12/2016	17/06/2017	06/07/2017	Dutch	PDF
Abridged model	31/12/2015	30/06/2016	18/08/2016	Dutch	PDF
Abridged model	31/12/2014	30/06/2015	28/08/2015	Dutch	PDF
Abridged model	31/12/2013	30/06/2014	23/07/2014	Dutch	PDF
Abridged modelCorrection	31/12/2012	30/04/2013	28/11/2013	Dutch	PDF
Abridged model	31/12/2012	30/04/2013	15/07/2013	Dutch	PDF
Abridged model	31/12/2011	16/06/2012	26/06/2012	Dutch	PDF
Abridged model	31/12/2010	18/06/2011	28/06/2011	Dutch	PDF
Abridged model	31/12/2009	19/06/2010	22/06/2010	Dutch	PDF
Abridged model	31/12/2008	20/06/2009	08/07/2009	Dutch	PDF
Abridged model	31/12/2007	21/06/2008	18/07/2008	Dutch	PDF
Abridged model	31/12/2006	16/06/2007	22/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 11 ended

Active mandates

Carina Quintelier

Director

Active

Wim De Wan

Managing director

Active

Ended mandates

CARINA QUINTELIER

Director · since 21 juin 2008 · until 21 juin 2014

Ended

CARINA QUINTELIER

Director · since 21 juin 2008

Ended

DIRK DE WAN

Director · since 21 juin 2008 · until 25 mai 2012

Ended

DIRK DE WAN

Director · since 21 juin 2008 · until 21 juin 2014

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other19/12/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates21/12/2021
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares18/05/2018
KAPITAAL - AANDELEN
PDF
Mandates28/08/2015
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares03/01/2014
BENAMING - DOEL - KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Capital / shares28/11/2013
KAPITAAL - AANDELEN - DIVERSEN
PDF
Mandates07/05/2013
ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/06/2012
ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 202526,9 k €↓
2024
Annual accounts 2024145,5 k €↑
2023
Annual accounts 2023136 k €↑
2022
Annual accounts 2022135,5 k €↓
2021
Annual accounts 2021186 k €↑
2020
Annual accounts 2020102,4 k €↓
2019
Annual accounts 2019110,9 k €↑
2018
Annual accounts 2018105,7 k €↑
2017
Annual accounts 201737,6 k €↓
2016
Annual accounts 201657,2 k €↑
2015
Annual accounts 201526,6 k €↓
2014
Annual accounts 201443 k €↓
2013
Annual accounts 201344,6 k €↑
2013
Name changeGraywan
2012
Annual accounts 201227,9 k €↓
2011
Annual accounts 201178,3 k €↑
2010
Annual accounts 201023,4 k €↓
2009
Annual accounts 200988,5 k €↑
2008
Annual accounts 200884,2 k €↑
2007
Annual accounts 200781,5 k €
2007
Name changeMarmer en Granietwerken De Wan
01/01/1976
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

GRAYWAN

Overview

What does GRAYWAN do?

Trend over 19 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline